{"id":19275,"date":"2023-03-29T18:12:33","date_gmt":"2023-03-29T18:12:33","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/controversial-tiktok-ban-bill-sparks-concerns-among-cryptocurrency-and-technology-advocates-bitcoin-news\/"},"modified":"2023-03-29T18:12:33","modified_gmt":"2023-03-29T18:12:33","slug":"controversial-tiktok-ban-bill-sparks-concerns-among-cryptocurrency-and-technology-advocates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/controversial-tiktok-ban-bill-sparks-concerns-among-cryptocurrency-and-technology-advocates-bitcoin-news\/","title":{"rendered":"Controversial ‘Tiktok Ban Bill’ Sparks Concerns Among Cryptocurrency and Technology Advocates \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Cryptocurrency and technology proponents have recently been discussing a new bipartisan bill called the \u201cRestricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT)\u201d Act. In addition to targeting firms such as Kaspersky, Huawei, and Tiktok, opponents of the bill believe one of its provisions will punish ordinary Americans for leveraging a virtual private network (VPN). However, a spokesperson for Democratic senator Mark Warner insists the \u201clegislation is aimed squarely at companies\u201d and \u201cnot at individual users.\u201d<\/strong><\/p>\n

Concerns Over the RESTRICT Act\u2019s Potential Impact on Cryptocurrency and VPN Use<\/h2>\n

Since the bill was introduced in March, the RESTRICT Act, sponsored by over a dozen bipartisan politicians and initiated<\/a> by senator Mark Warner (D-VA), has been the center of controversy. A great deal of attention has been focused on the bill targeting Tiktok, and several reports<\/a> say the legislation could be used to ban the app in the United States. The act would give the U.S. president and secretary of commerce the ability to regulate technologies that can be tied to nations such as Russia, China, Venezuela, North Korea, Cuba, and Iran. Tech advocates and cryptocurrency supporters are concerned about the bill and have been discussing<\/a> its implications on forums and social media.<\/p>\n

One particular provision in Warner\u2019s RESTRICT Act has caused many people to believe<\/a> that Americans could be jailed for using a virtual private network (VPN). The bill<\/a> notes that there are strict penalties, including a 20-year sentence, for using \u201ccommunications technology products and services\u201d with applications or web portals associated with \u201cforeign adversaries.\u201d While some have said that the RESTRICT Act could ban Tiktok and target Americans for using a VPN with websites tied to foreign adversaries, others have gone as far as to say<\/a> that the bill could be used to ban bitcoin. Venture capitalist and angel investor Balaji Srinivasan stated<\/a>:<\/p>\n

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The RESTRICT Act is the American Great Firewall. Become China in the name of beating China.<\/p>\n<\/blockquote>\n

Former politician and government critic Ron Paul said<\/a> in a recent broadcast that the \u201cRESTRICT Act is the Patriot Act on steroids.\u201d Another former member of the U.S. Congress, Justin Amash, stressed<\/a> on Twitter that the \u201cRESTRICT Act isn\u2019t about banning TikTok; it\u2019s about controlling you. It gives broad powers to the executive branch, with few checks, and will be abused in every way you can imagine.\u201d The nonprofit organization focused on the policy issues facing cryptocurrencies, Coin Center, also published a blog post<\/a> on the subject and noted that it could be used against cryptocurrency users.<\/p>\n

\u201cThe RESTRICT Act creates blanket authority, with few checks, to ban just about anything linked to a \u2018foreign adversary,\u2019\u201d Coin Center explains in the editorial. \u201cAn overbroad attempt to ban crypto using these new powers would be open to a court challenge, but the law has worryingly narrow avenues for review.\u201d Coin Center concludes that \u201cwhile the primary purpose of the act is to address national security concerns, its potential implications for the cryptocurrency space cannot be ignored.\u201d<\/p>\n

Conflicting Opinions on Whether the RESTRICT Act Will Target Individual Users<\/h2>\n

Despite the complaints, a report<\/a> published by Daily Dot claims \u201cyou will not be jailed for 20 years if you use TikTok after it\u2019s banned \u2014 despite internet fear-mongering.\u201d The author of the report, David Covucci, calls the warnings on social media and forums a \u201cnonsensical rumor.\u201d Covucci notes that the use of the term \u201cvirtual private network\u201d or VPN is not mentioned in the bill, and the reporter also retrieved a statement from senator Warner\u2019s office.<\/p>\n

\u201cUnder the terms of the bill, someone must be engaged in \u2018sabotage or subversion\u2019 of American communications technology products and services, creating \u2018catastrophic effects\u2019 on U.S. critical infrastructure, or \u2018interfering in, or altering the result\u2019 of a federal election, in order to be eligible for any kind of criminal penalty,\u201d a Warner spokesperson told Covucci. \u201cTo be extremely clear, this legislation is aimed squarely at companies like Kaspersky, Huawei, and Tiktok that create systemic risks to the United States\u2019 national security\u2014not at individual users,\u201d the politician\u2019s spokesperson concluded.<\/p>\n

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Americans<\/a>, Balaji Srinivasan<\/a>, ban<\/a>, bill<\/a>, Bipartisan<\/a>, China<\/a>, Coin Center<\/a>, controversy<\/a>, court challenge<\/a>, Cryptocurrency<\/a>, cryptocurrency space<\/a>, cuba<\/a>, David Covucci<\/a>, Forums<\/a>, Huawei<\/a>, implications<\/a>, Iran<\/a>, Justin Amash<\/a>, kaspersky<\/a>, Mark Warner<\/a>, National Security<\/a>, national security concerns<\/a>, north korea<\/a>, overbroad<\/a>, penalties<\/a>, President<\/a>, RESTRICT Act<\/a>, Ron Paul<\/a>, Russia<\/a>, secretary of commerce<\/a>, Social Media<\/a>, technology<\/a>, tiktok<\/a>, United States<\/a>, Venezuela<\/a>, virtual private network<\/a>, VPN<\/a>, VPNs<\/a>, Warner Spokesperson<\/a><\/div>\n<\/div>\n

What do you think about the RESTRICT Act and its potential impact on technology, cryptocurrency, and individual freedoms? Share your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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